Asian stocks: Sluggish amid trade war fears, Thanksgiving Day
While harsh statements from Chinese and Hong Kong diplomats to the US should have potentially dragged the Asian shares to south, losses are limited ahead. The reasons are many including Thanksgiving in the US, absence of major data and the previous positive catalysts.
The United States (US) turned a Bill into the Act that now gives the State Department the power to reviews Hong Kong’s special trade status and could lead to harsh sanctions on Human Rights violators. Read more”¦
NZD/USD: Under pressure around 0.6420 after NZ Building Permits amid trade war fears
The latest political tension between the United States (US) and China, over Hong Kong law, seems to weigh over the export-oriented economies off-late. On Thursday, the US President Donald Trump’s passed a law requiring an annual inspection of Hong Kong to maintain the special trade status and enable the US State Department to announce sanctions against violators of human rights. China and Hong Kong rushed with harsh criticism of the same and warned the Trump administration to stay out of the personal matter. Read more”¦
China protests US law supporting Hong Kong but signals hope for trade deal – WSJ
The Wall Street Journal (WSJ) carried a gated story on Friday, quoting the US and Chinese officials, as saying that China condemned the US’ interference in Hong Kong’s internal affairs by threatening retaliation but refrained from it, against the backdrop of the ongoing US-China trade negotiations. Read more…
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